Aigen Investment Management LP Takes Position in Amplitude, Inc. (NASDAQ:AMPL)

Aigen Investment Management LP purchased a new stake in shares of Amplitude, Inc. (NASDAQ:AMPL) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 11,162 shares of the company’s stock, valued at approximately $114,000.

A number of other institutional investors and hedge funds have also modified their holdings of AMPL. JPMorgan Chase & Co. grew its holdings in shares of Amplitude by 265.5% during the fourth quarter. JPMorgan Chase & Co. now owns 307,225 shares of the company’s stock valued at $3,241,000 after buying an additional 223,175 shares in the last quarter. Geode Capital Management LLC boosted its position in Amplitude by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 1,955,564 shares of the company’s stock valued at $20,636,000 after purchasing an additional 52,033 shares during the last quarter. Wells Fargo & Company MN boosted its position in Amplitude by 48.1% during the fourth quarter. Wells Fargo & Company MN now owns 39,988 shares of the company’s stock valued at $422,000 after purchasing an additional 12,983 shares during the last quarter. Legal & General Group Plc boosted its position in Amplitude by 2.6% during the fourth quarter. Legal & General Group Plc now owns 82,998 shares of the company’s stock valued at $876,000 after purchasing an additional 2,111 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in Amplitude by 3.9% during the fourth quarter. Renaissance Technologies LLC now owns 219,500 shares of the company’s stock valued at $2,316,000 after purchasing an additional 8,200 shares during the last quarter. Hedge funds and other institutional investors own 73.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on AMPL shares. Scotiabank reduced their price objective on Amplitude from $12.00 to $10.00 and set a “sector perform” rating for the company in a research report on Thursday, April 24th. Robert W. Baird reduced their price objective on Amplitude from $17.00 to $14.00 and set an “outperform” rating for the company in a research report on Thursday, May 8th. Needham & Company LLC lifted their price objective on Amplitude from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. Bank of America boosted their price target on Amplitude from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Monday, June 16th. Finally, Piper Sandler boosted their price target on Amplitude from $15.00 to $16.00 and gave the stock an “overweight” rating in a research report on Thursday, August 7th. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Amplitude has a consensus rating of “Moderate Buy” and an average target price of $13.80.

Insider Transactions at Amplitude

In other Amplitude news, Director Erica Schultz sold 26,394 shares of the firm’s stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $12.49, for a total value of $329,661.06. Following the completion of the sale, the director owned 92,500 shares in the company, valued at approximately $1,155,325. This trade represents a 22.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Catherine Wong sold 8,502 shares of Amplitude stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $12.49, for a total value of $106,189.98. Following the sale, the director directly owned 79,152 shares in the company, valued at $988,608.48. The trade was a 9.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold 45,911 shares of company stock worth $571,352 over the last quarter. 23.83% of the stock is currently owned by corporate insiders.

Amplitude Stock Performance

Amplitude stock opened at $11.47 on Friday. The business’s 50-day simple moving average is $12.27 and its 200-day simple moving average is $11.55. The firm has a market capitalization of $1.17 billion, a PE ratio of -15.09 and a beta of 1.54. Amplitude, Inc. has a 52 week low of $7.55 and a 52 week high of $14.88.

Amplitude (NASDAQ:AMPL) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.01 EPS for the quarter, hitting analysts’ consensus estimates of $0.01. The business had revenue of $83.27 million for the quarter, compared to analyst estimates of $81.29 million. Amplitude had a negative return on equity of 33.08% and a negative net margin of 30.43%. The firm’s revenue was up 13.6% compared to the same quarter last year. Research analysts forecast that Amplitude, Inc. will post -0.62 earnings per share for the current year.

Amplitude Company Profile

Amplitude, Inc, together with its subsidiaries, provides a digital analytics platform that analyzes customer behavior in the United States and internationally. It offers Amplitude Analytics, which provides real-time product data and reconstructed user visits; Amplitude Experiment, a solution that allows teams to test new capabilities and safely roll out new features; Amplitude CDP, an insight-driven solution that encompasses the data infrastructure, audience management, and data streaming capabilities; and Amplitude Session Replay used by product, marketing, and data teams to understand user behavior, diagnose product issues, and improve product outcomes.